China Shenhua sees 14% YOY drop in FY'20 profit on lower revenue

Beijing-based coal producer China Shenhua Energy Co. Ltd. expects a 14% decrease in its attributable net profit for 2020.

The company estimated an annual profit of about 35.9 billion yuan for 2020 in a Jan. 29 filing, compared to 41.71 billion yuan in the previous year.

China Shenhua primarily attributed the projected decrease to low sales revenues resulting from declining average coal prices.

As of Jan. 28, $1 was equivalent to 6.45 Chinese yuan.